About Smart Diabetes Management
Diabetes is a chronic disease, and its treatment requires intensive management of medication, diet, and exercise. Information and communication technology provides diverse facilities to patients and medical specialists to manage different diseases in an efficient manner with the help of smartphone technology. Diabetes is a metabolic disorder that occurs due to defects in insulin secretion, insulin action, or genetic issues. The mHealth platforms include mobile phones, tablets, and in-built body sensors that transmit disease-related vital signs data such as blood pressure and pulse rate.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Smart Diabetes Management market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Dexcom, Inc. (United States), Smart Meter LLC (United States), Insulet Corporation (United States), LifeScan, Inc. (United States), Abbott Laboratories (United States), Medtronic plc (United States), Sanofi (France), Glooko, Inc. (United States), Tandem Diabetes Care, Inc. (United States) and Ascensia Diabetes Care Holdings AG (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are GlucoMe (Israel), B. Braun Melsungen AG (Germany), F. Hoffmann-La Roche Ltd. (Switzerland) and Delfu-medical (China).
Segmentation Overview
AMA Research has segmented the market of Global Smart Diabetes Management market by Type (Smart Glucose Meters, Continuous Glucose Monitoring Systems, Smart Insulin Pens, Smart Insulin Pumps, Closed-Loop Systems and Apps & Software), Application (Home Healthcare, Hospitals and Specialty Diabetes Clinics) and Region.
On the basis of geography, the market of Smart Diabetes Management has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Diabetes Type, the sub-segment i.e. Type 1 will boost the Smart Diabetes Management market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Device Type, the sub-segment i.e. Handheld will boost the Smart Diabetes Management market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
The E-Health Applications Harness ICT Technology and Provide Tools for Better Management of the Disease
Market Growth Drivers:
Rising Prevalence of Chronic Diseases among Geriatric Population, Paradigm Shift in the Treatment and Monitoring of Diabetes such as Smartphone Technology, Growing Adoption of Cloud-Based Enterprise Solutions for Diabetes Management and Increasing Penetration of Digital Platforms and Adoption of Mobile Apps for Diabetes Management
Challenges:
Low Penetration Rate in Developing Economies and Lack of Data Security
Restraints:
Affordability and User Error Could Be Some Potential Shortcomings and Higher Acceptance of Traditional Diabetes Management Devices
Opportunities:
The Rapid Advancements in Smartphone Technology, and Cloud-based Solutions and Development of Special Shoes and Socks (Footwear), and Bio-Artificial Pancreas
Market Leaders and their expansionary development strategies
In November 2020, LifeScan, a world leader in blood glucose monitoring and maker of the iconic OneTouch brand, has announced a partnership with Shoppers Drug Mart Inc., one of Canada's leading providers of pharmacy products and services, to pilot the retailer's first digital diabetes management program. and In 2020, Medtronic plc, the global leader in medical technology, has announced the planned acquisition of privately-held Companion Medical, manufacturer of InPen, the only U.S. FDA-cleared smart insulin pen system paired with an integrated diabetes management app on the market.
In May 2022, GOQii, a leading smart-tech-enabled preventive healthcare company that is focusing on Digital Therapeutics, launched the first of its kind integrated lifestyle medicine programme-the GOQii Diabetes Care for people diagnosed with Diabetes. The programme is initiated to help people with diabetes to manage their condition and take ownership of their health with external help and expert guidance.
The FDA has authorized diabetes devices that have been designed to work safely with other devices, such as integrated continuous glucose monitoring systems and "automated controller enabled" insulin pumps that comprise diabetes therapy systems. This approach allows patients to safely tailor their diabetes management. Devices are labeled to indicate which compatible devices patients can safely use together as a system.
Key Target Audience
Smart Diabetes Management Device Manufacturers, Software Developers and Integrators, Pharmaceutical & Healthcare Organizations, Potential Investors, Research Institutes, Governments and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.